Private Student Loans

Your future is bright! But sometimes your savings and financial aid options aren’t enough to cover the full cost of your higher education. Our private student loan can help you meet the cost of your higher education.

Why apply for a student loan with cPort Credit Union?

How much can I borrow?

  • Maximum loan amount: Cost (tuition, room and board, fees, and books) minus aid (maximum $40,000 per year, $200,000 total).
  • Minimum loan amount: $1,500.

Eligibility

  • You must be a cPort Credit Union member in good standing.
  • You must be enrolled at least half time in an eligible degree or certificate program.
  • School certification is required.
  • You must meet credit standards (with or without a cosigner).
  • You must be a Maine resident, or an out-of-state resident attending a Maine college or university.

When do I start repaying my loan?

  • You can start payments of principal and interest right away.
  • You can defer payments of principal and interest while you are enrolled in school at least half-time. Principal and interest payments begin following a six-month grace period after you leave school.
  • You can defer payments of principal and make interest-only payments while you are enrolled in school at least half-time. Full principal and interest payments begin following a six-month grace period after you leave school.

Membership Eligibility for a cPort Credit Union Account

You are eligible to join if you live or work in Maine and meet one of the following criteria: 

  • Live or work in Cumberland, Kennebec, Sagadahoc, Androscoggin, or York County. 
  • A current or retired employee of the public sector, including local, state, county, or federal governments 
  • A current or retired member of the armed services, National Guard, or reserves. 
  • Anyone living in the same residence as an individual who is a member or is eligible to become a member. 

Learn more about becoming a cPort member! 

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